Hugoton Royalty Trust declares no December cash distribution; excess costs on all three conveyances

HUGOTON ROYALTY TRUST

No monthly cash distribution for December 2023 due to excess cost positions on Kansas, Oklahoma, and Wyoming net profits interests.
Kansas cumulative excess costs $515K ($17K interest); Oklahoma $1.619M ($224K interest); Wyoming $1.746M ($27K interest).
Development costs for three non-operated wells total $9.1M underlying ($7.3M net to Trust); two wells completed Q2 2023.
Arbitration award: ~$14.6M net to Trust from Chieftain settlement may be charged as production cost; likely no Oklahoma distributions during recovery.
Trust cash reserve reduced by $106K for expenses; future distributions require replenishment before any payout.

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